1) bankcan proceed against guarantor if it so desires. You cannot force bank to proceed against guarantor

2) you cannot ask bank not to sell the property but rent it out

3) notice is valid

4) copy of magistrate order should have been given to residents

5)bank could have taken symbolic possession of the premises

6) bank is seeking to recover its outstanding dues.

7) if you have replied to SARFEASI notice bank will submit detailed rejoinder

8) contact a local lawyer

9) you should filesuit for partition for division of father properties by metes and bounds

1. according to Mardia Chemicals case bank cannot take possession over the mortgage property without satisfy the DRT that auction is the last option.

2. bank is bound to recover loan amount from the guarantor. Guarantor is liable to the extent of borrower. according to section 128 of the contract act : the liability of the surety/guarantor is co-extensive with that of the principal debtor,

3. you should file an objection before the DRT against recovery process.

1. Bank will follow the rules of acquiring the borrower's assets first and if that is found insufficient then the guarantor's assets would be liable to be attached.

You have a remedy in law in a different court if your brother deceitfully grabbed the business and other assets of your deceased father's business.

2. Bank will follow the rules for recovering the money. Bank cannot let out the property on rent etc. It is not legal on the part of bank to let out the seized property on rent.

3. As per Sarfesi Act, a legal action for recovery of any outstanding loan beyond Rs. 10 lakhs can be initiated under the provisions of the said act.

4. The bank will initiate legal action as per rules, if the inventory is movable property then there is no use in acquiring it.

5. The action of bank to lock the house without the permission of court or the district magistrate is illegal. You people should not allow this to happen, you can put a strong fight, they cannot do anything other than to seek police help and if police help is to be sought they have to approach court only.

The bank cannot engage antisocial element to forcibly evict the residents/tenants of the house. You can lodge a criminal complaint for criminal trespass agaisnt the agents who invaded the house without proper authority.

For physical possession the bank has to follow due process of law.

6. If there is no order by magistrate and a commissioner appointed by court then such an act may be considered as illegal and you can obtain stay agaisnt this by filing a writ seeking stay of operation against this from high court and not from DRT.

Why did you not give a reply when you received a notice under section 13(2) of the act or approach DRT then for a stay of operation of any such act by bank under sarfesi act citing the reasons as grounds seeking stay?

7. Bank cannot recover the loan amount from a different person's account who is not a borrower nor has any liability towards this loan.

8. For the default of loan repayment, this is one of the followup action by the bank/financial institution. What is your good will in this when you have defaulted the repayment of loan.

9. You can ask this question to the bank

10. The bank will rely upon only reliable replies which states that you will undertake to repay the loan, it cannot hear your own stories.

You have to explain such situations in the court alone.

When there are assets before bank sufficient to adjust the outstanding loan with interests, the bank will not touch guarantor's assets.